Adani Group to invest Rs. 35,000 crore in Uttar Pradesh

Adani Group to invest Rs. 35,000 crore in Uttar Pradesh

The UP Investors Summit inaugurated by Prime Minister Narendra Modi on February 21 saw some of the noted industrialists and investors coming together and promising to invest in the state to kick start its development revolution. After Mukesh Ambani said that Reliance Industries will pump in Rs 10,000 crore into the state through Jio over the course of three years, Adani Group has said it will invest Rs 35,000 crore in Uttar Pradesh in various sectors over the next five years.

Promising to stand with the leadership in transforming the state, Gautam Adani of the Adani Group committed an aggregate investment of Rs 35,000 crores in UP. Speaking at the inaugural session of the Investors Summit- 2018, Adani said energy, logistics, solar power, roads and agriculture are among the core sectors in which his group is working and showed interest in investing in these fields.

“Almost 17 per cent of the total population of the country lives in Uttar Pradesh…the development story of the country cannot be written without the state,” Adani said.

Besides Mukesh Ambani and Gautam Adani promising to invest in the state, Kumar Mangalam Birla, Chairman of the Aditya Birla Group, has said that his group would invest Rs 25,000 crore in Uttar Pradesh and that the focus will be on finance, cement, and chemicals.

Anand Mahindra also said that he would be willing to set up an electric vehicle manufacturing plant in the state. He said that Club Mahindra would be executing a MoU with the UP Government to create a Rs 200-crore resort in Varanasi.

Chief Minister of Uttar Pradesh, Yogi Adityanath has assured to speed up clearances and end red tape and was advised by Prime Minister Modi to personally ensure that the signed MoUs translate into reality.


(Source: PTI)

by TNBC Staff Reporter on February 22, 2018

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